Glossary of Terms

Ideal Product Fit Identification

Definition

Ideal Product Fit Identification is the process of determining which loan product best suits a borrower’s financial profile, business needs, and funding goals. This AI-driven approach ensures that borrowers are matched with the right financing options, improving both approval rates and long-term lender relationships.

Why is it important to SBA Lending

Choosing the wrong loan product can lead to rejections due to eligibility mismatches, unnecessary delays in the funding process as well as higher borrower frustration and abandonment rates.

For lenders, manually identifying the best loan fit is inefficient, as different SBA programs (such as 7(a), 504, and Microloans) have unique qualifications and usage restrictions. With Ideal Product Fit Identification, lenders can:
-Optimize approval chances by steering applicants toward loans they qualify for.
-Improve borrower experience by reducing application errors.
-Enhance operational efficiency by focusing underwriting on high-fit applicants.

What role does Parlay Play

Parlay’s Loan Intelligence System (LIS) leverages AI-driven analytics to:
-Automatically match borrowers with the most suitable loan product.
-Provide real-time insights on loan eligibility and requirements.
-Reduce processing time by ensuring only well-matched applications move forward.

By automating Ideal Product Fit Identification, Parlay helps lenders increase loan approvals, improve borrower satisfaction, and optimize loan portfolio performance.

‍